BTEM: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BTEM
Largest movements
- Tangible fixed assets +€11,529
up €11,529 (+76.5%), from €15,066 to €26,596
- Receivables within one year -€5,084
down €5,084 (-36.7%), from €13,844 to €8,760
of which Trade receivables: -€7,472
- Cash -€3,453
down €3,453 (-59.1%), from €5,844 to €2,391
mainly Investment in fixed assets (net) (-€19,064) and Tax, wage and social debts (-€3,929)
- Deferred charges and accrued income -€468
down €468 (-80.0%), from €585 to €117
- Debts after one year +€10,509
up €10,509 (+217.9%), from €4,823 to €15,332
- Tax, wage and social debts -€3,929
down €3,929 (-95.1%), from €4,131 to €201
of which Remuneration and social security: -€3,000
- Other debts -€2,742
no longer reported in 2025 (was €2,742)
- Current portion of long-term debt -€1,934
down €1,934 (-23.9%), from €8,105 to €6,170
- Profit (loss) carried forward +€999
up €999 (+15.0%), from -€6,663 to -€5,663
- Taxes -€5,229
down €5,229, from €2,729 to -€2,500
- Gross operating margin +€1,081
up €1,081 (+16.8%), from €6,422 to €7,503
- Depreciation -€838
down €838 (-10.0%), from €8,373 to €7,535
- Staff costs -€435
no longer reported in 2025 (was €435)
- Other operating charges -€355
down €355 (-84.9%), from €419 to €63
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,576 | €39,100 | +€2,524 | +6.9% |
| Fixed assets | 21/28 | €16,303 | €27,833 | +€11,529 | +70.7% |
| Tangible fixed assets | 22/27 | €15,066 | €26,596 | +€11,529 | +76.5% |
| Furniture and vehicles | 24 | €15,066 | €26,596 | +€11,529 | +76.5% |
| Financial fixed assets | 28 | €1,237 | €1,237 | = | 0.0% |
| Current assets | 29/58 | €20,273 | €11,268 | -€9,005 | -44.4% |
| Amounts receivable within one year | 40/41 | €13,844 | €8,760 | -€5,084 | -36.7% |
| Trade receivables | 40 | €12,958 | €5,486 | -€7,472 | -57.7% |
| Other amounts receivable | 41 | €886 | €3,274 | +€2,388 | +269.7% |
| Cash at bank and in hand | 54/58 | €5,844 | €2,391 | -€3,453 | -59.1% |
| Deferred charges and accrued income | 490/1 | €585 | €117 | -€468 | -80.0% |
| Total equity and liabilities | 10/49 | €36,576 | €39,100 | +€2,524 | +6.9% |
| Equity | 10/15 | €16,397 | €17,397 | +€999 | +6.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €16,860 | €16,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,663 | -€5,663 | +€999 | +15.0% |
| Amounts payable | 17/49 | €20,179 | €21,704 | +€1,525 | +7.6% |
| Amounts payable after more than one year | 17 | €4,823 | €15,332 | +€10,509 | +217.9% |
| Financial debts | 170/4 | €4,823 | €15,332 | +€10,509 | +217.9% |
| Amounts payable within one year | 42/48 | €15,356 | €6,371 | -€8,985 | -58.5% |
| Current portion of amounts payable after more than one year | 42 | €8,105 | €6,170 | -€1,934 | -23.9% |
| Trade debts | 44 | €379 | - | -€379 | |
| Suppliers | 440/4 | €379 | - | -€379 | |
| Taxes, remuneration and social security | 45 | €4,131 | €201 | -€3,929 | -95.1% |
| Taxes | 450/3 | €929 | - | -€929 | |
| Remuneration and social security | 454/9 | €3,201 | €201 | -€3,000 | -93.7% |
| Other amounts payable | 47/48 | €2,742 | - | -€2,742 | |
| Remuneration, social security and pensions | 62 | €435 | - | -€435 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,373 | €7,535 | -€838 | -10.0% |
| Other operating charges | 640/8 | €419 | €63 | -€355 | -84.9% |
| Gross operating margin | 9900 | €6,422 | €7,503 | +€1,081 | +16.8% |
| Operating profit (loss) | 9901 | -€2,805 | -€96 | +€2,709 | +96.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,155 | €1,405 | +€251 | +21.7% |
| Recurring financial charges | 65 | €1,155 | €1,405 | +€251 | +21.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,959 | -€1,501 | +€2,459 | +62.1% |
| Income taxes | 67/77 | €2,729 | -€2,500 | -€5,229 | |
| Profit (loss) for the period | 9904 | -€6,689 | €999 | +€7,688 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,689 | €999 | +€7,688 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.